Euromoney Institutional Investor plc Reports Unaudited Consolidated Earnings Results for the Six Months Ended March 31, 2016; Provides Tax Rate Guidance for the Full Year 2016
Euromoney Institutional Investor plc reported unaudited consolidated earnings results for the six months ended March 31, 2016. For the period, the company reported total revenues of £194,198,000 against £197,688,000 a year ago. Operating profit was £26,040,000 against £90,303,000 a year ago. Profit before tax was £23,357,000 against £93,311,000 a year ago. Profit attributable to equity holders of the parent of £17,002,000 or 13.44 pence per diluted share compared to £80,200,000 or 63.43 pence per diluted share for the same period a year ago. Adjusted diluted earnings a share was 29.86 pence against 34.09 pence a year ago. Net cash generated from operating activities was £46,865,000 against £48,541,000 a year ago. Purchase of property, plant and equipment was £1,451,000 against £5,943,000 a year ago. Purchase of intangible assets was £1,417,000 against £1,148,000 a year ago. Net cash as at March 31, 2016 was £55,881,000 million compared with net debt of £10,617,000 a year ago. Adjusted operating profit was £46.8 million against £50.5 million a year ago. Adjusted profit before tax was £46.9 million against £53.4 million a year ago. The adjusted profit before tax is higher than the statutory profit before tax due to adjustments for an exceptional impairment charge of £12.9 million relating to Mining Indaba and acquired intangible amortization of £7.9 million.
The company forecasts adjusted effective tax rate for 2016 full year of 18% against 18% in the previous year.